WM Motor
Electric vehiclesChina
💀 Dead / Bankrupt
Peak $5.7 BillionToday
~-100%
from peak
- 🦄Became a unicorn2017
- 📈Peak valuation$5.7 Billion ’21
- 💔Became a UnitardOct 2023
- 💸Last valuationWiped out
🔥 Raised & burned
$5.3B
Total raised
$1.75M/day
Burned · 8.3y alive
Funding: Electrek/TechCrunch
Current status
Bankruptcy / restructuring (Oct 2023)
How it happened
WM Motor was one of China's best-funded EV startups, backed by Baidu and Tencent and raising more than $5.3B toward a valuation around $5.7B. Price wars, weak deliveries and a stalled IPO drained its capital. WM Motor filed for bankruptcy restructuring in October 2023.
Source: Reuters; raised >$5.3B
